Residential Solar Power Michigan

The program for homeowners offers loans ranging up to 40 000 with terms of up to 120 months and a maximum apr of 7.

Residential solar power michigan.

Will residential solar power system cost fall in michigan in 2020. Additionally some michigan utility companies offer net metering which allows solar customers to receive a 1 to 1 credit for excess energy their solar power systems send back to the grid. Michigan is the 15th best in the country for return on investment of a residential solar array. Since most residential solar generation systems only generate about 25 50 of the total power used by a household there wouldn t be any power being sold back to the power companies.

Aside from the power output of the solar equipment you choose to install the amount of energy you generate with solar panels in michigan is directly related to the amount of sunlight that hits your panels. The great lakes state receives an average of 4 peak sun hours per day though improving solar technology and beneficial tax credits continue to make solar a viable option for homeowners in. Following the national extension of the solar investment tax credit itc through 2021 it has never been a better time to go solar. It is because the cost of our power is so high.

Michigan saves is a nonprofit loan program for homeowners and business owners who need help financing the installation of a solar power unit. This isn t because we produce more than 35 other states. This awesome credit cuts the cost of your overall solar installation by 26 percent making solar pv a more affordable and appealing energy source than fossil fuels. Michigan solar tax credits and incentive programs the federal investment tax credit.

To illustrate how high electricity prices are beneficial for residential solar power let s compare the savings offered by 5000 kwh of solar power in michigan with those obtained from the same amount of energy in a state where the electricity price is 0 10 kwh. Benefits of solar power in michigan michigan homeowners who add solar panels may be able to take advantage of the current 26 federal solar tax credit. We are one of the few companies that have a full time service department monitoring our customer s solar arrays via the internet. With over 200 solar power related companies in michigan solar has been one of the few bright spots in an otherwise troubled state economy.

Michigan solar solutions mss designs and installs commercial residential municipal non profit and educational solar arrays across the state.